Fed’s Hoenig: we risk repeating past mistakes
Thomas Hoenig, the president of the Kansas City Federal Reserve and the lone dissenter at the past five policy votes, has warned that keeping interest rates too low for too long risks exacerbating imbalances in the US economy.
Hoenig told an audience Lincoln, Nebraska on Friday that the policy patterns following the 1990-91 and 2001 recessions could not be repeated: "If we again leave rates too low, too long out of our uneasiness over the strength of the recovery and our intense desire to avoid
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